Point View Wealth Management Inc. lowered its stake in Ingredion Incorporated (NYSE:INGR) by 15.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,060 shares of the company’s stock after selling 1,125 shares during the quarter. Point View Wealth Management Inc.’s holdings in Ingredion were worth $732,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Toronto Dominion Bank boosted its stake in shares of Ingredion by 10.6% during the 2nd quarter. Toronto Dominion Bank now owns 952 shares of the company’s stock worth $113,000 after acquiring an additional 91 shares during the last quarter. WFG Advisors LP boosted its stake in shares of Ingredion by 0.4% during the 2nd quarter. WFG Advisors LP now owns 1,373 shares of the company’s stock worth $164,000 after acquiring an additional 6 shares during the last quarter. First Mercantile Trust Co. boosted its stake in shares of Ingredion by 19.3% during the 2nd quarter. First Mercantile Trust Co. now owns 1,432 shares of the company’s stock worth $171,000 after acquiring an additional 232 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Ingredion by 17.2% during the 2nd quarter. Penserra Capital Management LLC now owns 1,456 shares of the company’s stock worth $173,000 after acquiring an additional 214 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Ingredion by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 1,506 shares of the company’s stock worth $180,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 83.77% of the company’s stock.
In other Ingredion news, VP James P. Zallie sold 3,048 shares of Ingredion stock in a transaction on Friday, September 1st. The shares were sold at an average price of $125.00, for a total value of $381,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP James P. Zallie sold 21,862 shares of Ingredion stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $125.04, for a total transaction of $2,733,624.48. Following the completion of the sale, the vice president now owns 29,306 shares in the company, valued at $3,664,422.24. The disclosure for this sale can be found here. Insiders have sold a total of 73,556 shares of company stock worth $9,371,676 over the last 90 days. Insiders own 1.92% of the company’s stock.
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Shares of Ingredion Incorporated (NYSE INGR) traded up $0.83 during mid-day trading on Monday, hitting $133.79. 356,100 shares of the stock traded hands, compared to its average volume of 430,744. The company has a market cap of $9,600.00, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.58 and a beta of 0.68. Ingredion Incorporated has a 12-month low of $113.07 and a 12-month high of $134.03. The company has a quick ratio of 1.53, a current ratio of 2.41 and a debt-to-equity ratio of 0.61.
Ingredion (NYSE:INGR) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.17. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.52 billion. Ingredion had a net margin of 8.73% and a return on equity of 20.92%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $1.96 EPS. equities analysts expect that Ingredion Incorporated will post 7.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, October 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.79%. This is an increase from Ingredion’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, September 29th. Ingredion’s dividend payout ratio (DPR) is presently 34.33%.
Several research analysts have recently weighed in on INGR shares. Zacks Investment Research upgraded shares of Ingredion from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Wednesday, November 8th. BidaskClub downgraded shares of Ingredion from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. Jefferies Group LLC set a $145.00 price objective on shares of Ingredion and gave the company a “buy” rating in a research report on Sunday, October 29th. Credit Suisse Group restated an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Ingredion in a research report on Thursday, November 2nd. Finally, Stephens upgraded shares of Ingredion from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, November 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Ingredion currently has a consensus rating of “Buy” and an average target price of $140.00.
Ingredion Company Profile
Ingredion Incorporated is an ingredients solutions provider. The Company manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a range of industries, both domestically and internationally.
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